EU to Impose Sanctions on Iran in Bid to Halt Nuclear Drive

European Union governments are set to impose their toughest sanctions yet on Iran, backing U.S. efforts to force the clerical regime to halt uranium enrichment as proof it’s not seeking a nuclear weapons capability.

The package includes a ban on investing or selling equipment to Iran’s oil and natural gas industries, restrictions on export-credit guarantees and insurance, and closer monitoring of banks doing business with Iran.

“We have a comprehensive set of sanctions,” EU foreign- policy chief Catherine Ashton told reporters before an EU meeting in Brussels today. “This is something where you’ll see all 27 countries working together.”

European curbs will go beyond what was spelled out in a United Nations Security Council resolution in June, in a boost to U.S. President Barack Obama’s bid to deepen Iran’s international isolation.